What are contingent liabilities , and why might they be important in deciding whether to approve or
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Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...
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Contingent liabilities are usually not shown on customer balance sheets These liabilities can be in ...View the full answer
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Related Book For 
Bank Management and Financial Services
ISBN: 978-0078034671
9th edition
Authors: Peter Rose, Sylvia Hudgins
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